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, november 19th. i'm angela miles. in today's first look: a better tone out of washington is giving a lift to the stock market. the market made gains on friday, but it wasn't enough to wipe away losses for this week. in market action last week, the dow fell 1.8%, the s&p was down 1.5%, and the nasdaq edged lower by 1.8%. president obama is still traveling in asia today, where he is calling for continued political reforms. american pilots will vote again on a contract offer from the airline, which remains in bankruptcy. the pilots rejected a previous offer in august. and a quick check of gas prices shows the price of a gallon of unleaded dropped a couple of pennies last week, but is down dramaticaly from a month ago. let's get some trader thoughts now from scott bauer of trading advantage. happy monday morning to you scott. > > good morning angie. > > there is a lot of talk about this fiscal cliff as you know. but i am hearing that traders really believe there is already a backroom deal in the works. > > you know, that is what they say, and i tend to agree with that. there is no way, it's j
. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we have seen the last quarter of this year, there is no way that the guys in washington can harm that or add anything to take the momentum away from that. it just won't happen. > let's talk about the stock market. what levels are you watching here? > > 1390 really held yesterday, during the sell-off in the morning. that is a real near- term support in s&ps. i think in the
. >>> lawmakers return to washington today with just 35 days until the "fiscal cliff" happens. and believe it or not, airlines are trying to keep queue on time. we'll explain now. >>> first business starts now. >>> you are watching first business. >>> good morning, it is monday, november 26, i am bill, so, did you survive black friday and welcome to super mondays. the holiday shopping season is now if full swing. we are going to spend more the last few weeks of the year than last year. remember tomorrow is giving tuesday. consider what you might do. >>> 35 days now for congress to solve that little impasse . this week they are going to try to make a deal. and is europe just buying greece? today finance minterred meet again to talk about releasing more billions your rows. >>> and now tim, he is the managing partner, so, tim, the eu, they are met meting again today and it still looks like they need money to go to greece. how much are traders going be paying attention to this? >> well, i think it is going p quite a bit of attention because it is a critical issues. and after three years of res
for washington. can two sides of the aisle reach an agreement on one plan? the unemployment rate for veterans is dropping. what sectors are hiring the most heros. plus, apple devices are getting more complex to make. why it could mean a longer wait for apple gadgets. and, how superstorm sandy could affect home depot stock this week. keep it here, first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's monday, november 12. i'm angela miles. in today's first look: stocks drop. the dow & s&p 500 fell 2% last week. some traders say it was just good old profit taking. others believe the fall was out of fear of the looming fiscal cliff. the market could have a heavy metal reaction today to a deal that was announced late friday. precision castparts is buying titanium metals for $2.9 billion in cash. in the "affairs to remember" category, christopher kubasik, who was on his way to becoming the ceo of lockheed martin, resigned after revealing an affair with an employee. cia director david patraeus also resigned friday becau
and investers are feeling better about the possible ending for the cliff hanger in washington. they were buying the market with both hands on monday, leaving green arrows pointing higher across the screen for stocks and commodities. federal reserve chair ben bernanke speaks today at a new york economic club meeting. he's expected to talk about monetary easing and the economic recovery. eurozone leaders meet today to talk about bailout funding for greece. and the world bank says more droughts are likely world-wide as global temperatures continue to rise. violence is ratching up in the middle east. john brady of rj o'brien joins us now for a look at the trading day from cme group. good to have you on the show this morning. > > thank you much. > > oil prices were higher yesterday by almost 3% during the session at one point. is the middle east the main driver behind the move? > > i don't think so actually. i think the the strength in crude was mirrored by strength in other commodities as well, and specifically risk assets had a super day on monday with the idea that over the course of the weekend
look: a buyer's bounce: despite rehtoric out of washington, investors are buying stocks. the dow is now up for the week. gains were also made across the board. the cbo reports the debt limit is okay for now. the treasury has the money to fund the government up to march of 2013. speculation is building t-mobile may start selling apple iphones next week. a campaign called "fast food forward" is happening in new york. employees are planning walkouts at burger king, kfc and taco bell. they want pay hikes up to $15 per hour and the right to form a union. we are here to serve up some information about the market. tim mulholland of china-america capital joins us now. good morning to you tim. it is the final trading day of the month. what do you anticipate? > > i think more of the same we've been seeing. the market seems to think it has a lot of resilience. we bounced earlier this week off of the 200-day moving average. s&p down around 1382-3 level. we are now near the post-election highs, which, end-of-month buying, typically book-squaring and so forth, typically leads to higher prices, so i
will stay put in the u.s.a. more veterans are fighting for jobs in congress. a study by george washington university finds that more veterans are running in "winnable races" within their congressional districts. 107 veterans are on the ballot in today's election. the majority are running for re-election; however, depending on the vote, new names on the ballot could push the number of veterans in congress to the highest level since 1980. retailers are hinting at strong numbers this holiday season. a new survey from bdo usa shows retailers are the most optimistic they've been in 5 years. the flurry of new tablets and other gadgets coming onto the market in time for christmas could lead to especially strong sales of consumer electronics. the bdo survey projects total holiday sales increasing by 4.7%. the national retail federation predicts 4.1%. it's not clear if superstorm sandy will dent holiday sales. banks are still struggling to reboot following superstorm sandy. in an effort to help consumers dealing with the after-effects of the storm, jpmorgan chase, citigroup and wells fargo are wai
"flight" to remove budweiser logos. the film "flight" features denzel washington as an airline pilot who is a heavy drinker. the vice president of bud sent a statement to the associated press saying the brewing company was never contacted by paramount for permission to use the beer in "flight." there's no comment from the director. still to come, flocking to stocks: a breakdown of the popular stock picks in the post-election season. that's later. but first, the election hoopla is wrapping up. now comes the hard part. bill moller takes a look at what is ahead for congress and the president, next. w the election is, obviously, over. let the heavy lifting begin. the president and congress now have a lot of work before them, not the least of which is that darn fiscal cliff that comes up at the end of the year, which, by the way, is less than 2 months off now. let's talk with author and finance columnist gail marks jarvis. you've been assessing the work ahead, and it's all about taxes and spending. you can't avoid it now. you've got to start making some decisions it seems. > > and the clock i
and posted a $1.2 billion net loss in its latest fiscal year. a busy week is ahead in washington as democrats and republicans face that looming fiscal cliff. today at the white house, president obama meets with the leaders of labor and progressive groups. wednesday he's invited top business leaders over for talks. reports say the ceos of ge, honeywell, walmart, ibm and more will be there. the president then meets with congressional leaders friday to address the cliff. "i intend to work with both parties. i said over and over again on the campaign trail, we can't cut our way to recovery, we have to ask the wealthiest americans to pay more." "instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. "let's focus on tax reform that closes special interest loopholes and lowers tax rates." without an agreement between lawmakers, $600 billion in automatic spending cuts plus tax hikes affecting all americans are set to trigger at the end of the year. greece remains a country on the brink. sunday greek leaders a
. wall street appears to be using caution while lawmakers in washington prepare to face off over the fiscal cliff. zynga's cfo is exiting the social gaming company for a senior level position at facebook. zynga is shaking up the management ranks and is backing its 2012 outlook. petitions to save thanksgiving from black friday shopping are popping up on the internet. employees and their families are among the first to sign on. and aaa predicts the number of americans hitting the road to head home for the holidays will rise slightly this season to 43.6 million. todd horwitz of the adam mesh trading group joins us. how are trading volumes going with so much talk about this fiscal cliff? and are traders finally tired of those two words? > > good morning, and yeah, we are tired of those words. look: the bottom line is this: the market is actually telling you - although the market was down yesterday - it rallied and then broke down - the market itself is telling you that the fiscal cliff is really not that big of an issue here, because we are still up 100% from '09 lows, and we're stil
the market took a plunge. the dow fell nearly 200 points. stocks dropped on fears washington will be slow to break out a workable budget, the fed hinting at the need for more stimulus, and air strikes in the middle east. reports say the federal housing administration is close to running out of money reserves as mortgage delinquencies rise. gm set a goal of producing a half million electric cars per year starting in 2017. and starbucks plans to buy teavana for $620 million in cash. let's get the breakdown now on market action with phillip streible of rjo futures. good to have you on the show. good morning to you. and how significant was yesterday's sell-off? > > it was fairly significant. i mean, we saw just no bounce whatsoever. we saw a continuation to the downside, taking out some previous day's lows and a lot of key support on the s&p. we saw weaker retail sales numbers. and that has been kind of a common theme with some of the economic data. and also there's a lot of gloom and doom with the fiscal cliff right around the corner. > > oil also made a big move. what are the futures sayin
budget comments from washington. gold took a hit, while oil slipped a bit. regulators are pushing off the final draft of the volcker rule into next year. the rule limits the ability of banks to trade stocks, options, commodities, and more. aaa predicts gas prices for the year 2012 will be the most expensive ever. the national average is $3.63 per gallon, topping $3.51 in 2011. the current price is $3.41, down a penny in the past week. mark sebastian of option pit mentoring and consulting joins us now to talk cliffs and bluffs. good morning to you. > > good morning. > still no chance we are going off that cliff according to traders? > > i guess not. it is interesting what will happen when politicians are short on detail, long on optimism. we could really get a nice rally. we took a nice technical bounce off the 200-day moving average around 1385. i don't think we see any real resistance 'til 1425, unless a politician opens their mouth and sends us tumbling right back to 1385, which can happen at any moment. it is really what is driving the s&p 500 right now. > meanwhile bonds are boun
Search Results 0 to 11 of about 12